Market Overview

Realty Income Prices 8.5M Share Offering at $40.63/Share


Realty Income Corporation (NYSE: O), today announced that a public offering of 8,500,000 shares of the company's common stock has been priced at a public offering price of $40.63 per share, and is expected to close October 25, 2013. Net proceeds from the offering, after underwriting discounts and estimated offering expenses payable by the company and assuming no exercise of the underwriters' overallotment option, will be approximately $329 million. The offering was upsized from an original amount of 6,500,000 shares to the final offering size of 8,500,000 shares. The company has also granted the underwriters a 30-day option to purchase up to 1,275,000 additional shares of common stock to cover overallotments, if any. All of the shares are being sold by the company.


The company expects to use the net proceeds from the offering to repay borrowings under its $1.0 billion acquisition credit facility, which were, and will be, used to fund real estate acquisitions.

The underwriters for the offering are: BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities, J.P. Morgan, Jefferies, RBC Capital Markets, and UBS Investment Bank (joint book-running managers), Baird, Citigroup, Credit Suisse,

See full press release

Posted-In: News Guidance Financing Offerings Contracts Asset Sales Management Global


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